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33219331
33219330

2925 Providence Road South, Waxhaw, NC 28173

DS
IL IL 475.134920
Marcus & Millichap - Chicago Oak Brook
Listed by Marcus & Millichap - Chicago Oak Brook
$6,241,929
2 days on market
Updated 2 days ago

Everbrook Academy - Waxhaw, NC (Charlotte MSA)

Details
Property Type Retail
Sub Type Day Care/Nursery
Square Footage 12,779
Cap Rate 7%
NOI $436,935
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 16.5
Lease Expiration 01/31/2036
Remaining Term 9.6
Rent Bumps Yes
Lease Options Three, Five-Year
Year Built 2021
Acreage 1.630
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/20/2019
Ground Lease No

#2 Corporate Operator in the Country | 9+ Years Remaining | AHHI Exceeds $204,000 in a 1-Mile Radius

Investment highlights

Corporate Guaranty from the #2 Corporate Operator in the Country

  • Learning Care Group (LCG) is officially recognized as the second-largest for-profit early childhood education and care provider in North America.
  • The company operates over 1,150 schools across the United States. Its network spans across 40 states and Washington, D.C.
  • LCG has the collective capacity to care for and educate over 165,000 children daily, ranging in age from 6 weeks to 12 years old.
  • Unlike some competitors that operate under a single name, LCG achieves its massive scale by maintaining a diverse portfolio of 11 unique brand identities. This multi-brand approach allows them to target various market segments, educational philosophies, and geographic regions.
  • Driven by its massive footprint, LCG generates an estimated $4.1 billion in annual revenue.

9+ Years Remaining with 10.00% Increases Every 5 Years

  • The Learning Care Group corporately guaranteed lease has over 9 years remaining.
  • The lease features rental increases every 5 years of 10.00% and continuing into the option periods, growing NOI and hedging against inflation.
  • The lease features limited landlord responsibilities, allowing for a passive investment for a new landlord.

Charlotte MSA – Nearly 3,000,000 People

  • Located between the Blue Ridge Mountains and coastal plains, the Charlotte metro stretches 3,198 square miles across the Piedmont region of the Southeastern United States.
  • A strong financial presence has helped the local population grow to more than 2.8 million citizens, becom¬ing one of the nation’s fastest-growing metros over the past 15 years.
  • The Charlotte metro benefits from North Carolina’s low-tax business environment, for which it is frequently ranked among the top states for competitiveness.

Over $97,000,000 Spent on Education and Daycare in a 5-Mile Radius

  • A strong focus on education and early childhood development can make a city more attractive to businesses and skilled workers, contributing to overall economic growth.
  • Participants in early childhood programs are more likely to enroll in college and potentially experience higher earnings in adulthood.

Listing Contacts

DS
IL IL 475.134920
Marcus & Millichap - Chicago Oak Brook
Listed by Marcus & Millichap - Chicago Oak Brook

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$436,935.00
$36,411.25/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Charles Gallagher
License
351471
Brokerage
Marcus & Millichap
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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